Fynd optimises delivery time for online shoppers by sourcing products from the outlets nearest to the customer. It sells fashion apparel, bags and accessories on its platform.

Commenting on the fund raise, Fynd’s Harsh Shah said: "Our major purpose of raising the round wasn't to gain more capital but to partner with stakeholders who can actually help us with their experiences and expertise.”

Last year, Fynd completed preliminary testing of its business model and was scaling up business from Mumbai to nationwide. "Around the same time, Anand, Ramakant, and Rajiv amongst others showed interest in our concept and the company and decided to help us in achieving our goals," Shah added.

Recently, Fynd also launched a new feature called 'Fynd Store' which enables brands to capture the maximum number of sales, build sustainable loyalty and benefit from cross-selling opportunities across different stores of the same brand.